SBM Bank Kenya and the Integrated Payment Services Limited IPSL have signed a partnership that will see the Bank offer the lowest transfer fees for bulk money transfer services in the market as the Bank enhances its payments solutions services to clients.
Through the partnership, customers using IPSL's Pesalink money transfer on SBM Mfukoni app and online banking will be able to send between KES 1 and KES 1,000 for free and between KES 1,001 and KES 999,999 for a flat rate of KES 20 - the lowest in the market.
The campaign will provide a framework to assess customer demand, pricing sensitivity, and usage patterns with a view to extending similar pricing models across Pesalink's broader network of banking partners in the future.
Pesalink is a 24/7, instant, and affordable payment channel that works outside traditional banking hours, even on public holidays- making it Kenya's leading interbank transfer solution for single transfers that are under KES 1 million.
